Almost half of adults are expecting to continue using credit cards when they retire, raising fears of a debt crisis among pensioners.
Forty five per cent of people are expecting to continue to use cards when they retire, according to research by the insurance group AXA, despite evidence that today’s pensioners are increasingly suffering from debt problems.
The Consumer Credit Counselling Service (CCCS) said that callers over
60 are the fastest growing sector of people using its services, with an
average debt of £33,568.
Retirement debt crisis